Direct Line Group has today announced that Adam Winslow is set to be appointed as its new chief executive officer, subject to regulatory approval. In a Press release, Direct Line said Winslow is expected to take up his new role in Q1 2024, succeeding acting CEO Jon Greenwood.
The UK motor insurance giant noted that prior to leading Aviva’s UK and Ireland general insurance business, the incoming executive was CEO of Global Life at AIG Life and Retirement (now Corebridge) having successfully held a number of general insurance and life insurance roles in his eight years at AIG. In addition, Winslow serves on the Board of the Association of British Insurers (ABI) and is a non-executive director at Pool Re.
Direct Line stated that Greenwood will remain as acting CEO until Winslow joins and will continue his strategic focus on improving business performance. The insurer noted that Greenwood opted not to pursue the role of CEO in order to develop a portfolio career and will work with Winslow to ensure a smooth handover and transition. After this, as planned, Greenwood intends to step back from his executive career and pursue other opportunities, including non-executive roles.
Commenting on the appointment, Danuta Gray, chair of Direct Line Group, said: “The board is delighted to announce that Adam Winslow is to be our new CEO. Adam has deep expertise in the UK general insurance market and significant leadership experience, spanning two decades across personal and commercial lines insurance.
“The board conducted an extensive search and Adam Winslow stood out for his strategic understanding of the sector, outstanding track record of leading high performing businesses and his focus on driving operational excellence to consistently meet customer needs."
Gray added that she and the board look forward to working with Winslow to provide high-quality insurance products to Direct Line’s customers and sustainable returns to shareholders. She thanked Greenwood for stepping up as acting CEO where she said he has shown “commitment, leadership and focus” to improve business performance – and also thanked him for his former leadership of Direct Line’s commercial function.
Adam Winslow, CEO designate of Direct Line Group, said: “Direct Line Group is one of the UK’s leading insurers with some of the most recognisable brands in the retail and commercial market. It’s a privilege to be invited to lead DLG into the future, particularly given its rich heritage and passion for serving its millions of customers.
“The UK insurance industry is dynamic and always evolving. Delivering great customer service relies on strong strategic vision and the operational capability to execute quickly across a variety of distribution channels. I’m looking forward to working with my new colleagues to drive growth, deliver for customers and create long-term shareholder value.”
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